H.4.1 Factors Affecting Reserve Balances of Depository Institutions

/$%$£&£•. F E D E R AL R E S E R VE Factors Affecting Bank Reserves and Condition Statement of F.R. Banks H.4.1 For immediate release December 21, 1967 The average of daily figures of total member bank reserves held during the week ended December 20, increased $486 million to $25,187 million. Estimated currency and coin of member banks increased $151 million and their reserve balances at the Federal Reserve Banks increased $335 million. Estimated required reserves increased $581 million; and estimated excess reserves decreased $95 million to $232 million. Excess reserves exceeded member bank borrowings at the Federal Reserve Banks by $47 million, compared with the revised figure of $206 million the week before. The principal changes supplying average reserve balances with Federal Reserve Banks were an increase of $491 million in Federal Reserve float, and a decrease of $251 million in "other" F. R. accounts (net). The principal offsetting changes were a decrease of $145 million in U. S, Government securities bought outright, and $75 million in acceptances held under repurchase agreements, and an increase of $175 million in currency in circulation. Total Reserve Bank credit increased $337 million. As of Wednesday, December 20, 1967, holdings of U. S. Government secur ities bought outright were $113 million lo./er than a week earlier, and member bank borrowings were $263 million higher. Average» s of daily figures Member bank reserves, Week ended Change from week ended Wednesday, Reserve Bank credit, Dec. 20, Dec. 13, Dec. 21, Dec. 20, _ and related items 1967 1967 1966 1967 (In millions of dollars) Reserve Bank credit: U, S, Government securities- Bought outright—System account 48,708 -145 +5,582 48,740 Held under repurchase agreements - 343 Federal Agency obligations- Held under repurchase agreements 23 Acceptances- Bought outright 71 + 2 f 5 74 Held under repurchase agreements - 75 93 -- Discounts and advances— Member bank borrowings 185 + 64 - 287 419 Other -- -- 13 -- Float 2,135 +491 - 536 2,253 Total Reserve Bank credit 51,099 +337 +4,291 51,486 Gold stock 12,432 -- - 726 12,434 Treasury currency outstanding 6,775 + 2 + 484 6,783 70,306 +339 +4,049 70,703 Currency in circulation 47,093 +175 +2,418 47,301 Treasury cash holdings 1,444 - 1 + 256 1,434 Treasury deposits with F. R. Banks 844 + 57 + 641 724 Foreign deposits with F. R. Banks 156 + 16 + 1 168 Other deposits with F. R. Banks 434 + 7 + 18 417 Other F. R. accounts (net) -245 -251 - 277 -290 49,726 + 3 +3,057 49,754 Member bank reserves: With Federal Reserve Banks 20,579 +335 + 991 20,949 Currency and coin (estimated) 4,608 +151 + 304 5,056 Total reserves held 25,187 +486 +1,295 26,005 Required reserves (estimated) 24,955 +581 +1,267 25,205 Excess reserves (estimated) 232 - 95 + 28 1 800 On December 20, 1967, U. 3. Government securities held in custody by the Federal Reserve Banks for foreign account were $9,360 million, an increase of $662 million for the week and an increase of $1,836 million from the comparable date a year ago. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.l(a) CONSOLIDATED STATEMENT OF CONDITION OF ALL FEDERAL RESERVE BANKS (In millions of dollars) Wednesday Change since Dec. 20, Dec. 13, Dec. 21, 1967 1967 1966 A S S E TS Gold certificate account 9,978 4 - 859 Redemption fund for F. R. notes 1,928 + 86 Total gold certificate reserves 11,906 4 - 773 Cash (537) 354 4 + 63 Discounts and advances 419 + 263 + 115 Acceptances: Bought outright 74 + 5 + 5 Held under repurchase agreements 66 - 121 Federal Agency obligations- Held under repurchase agreements 24 U. S. Government securities: Bought outright- Bills 15,735 113 +4,319 Certificates -- -- -4,351 Notes 26,918 -- +5,626 Bonds 6,087 -- - 105 Total bought outright 48,740 - 113 +5,489 Held under repurchase agreements -- -- - 668 Total U. S. Government securities 48,740 - 113 +4,821 Total loans and securities 49,233 + 89 +4,796 Cash items in process of collection (2,168) 8,929 + 865 - 509 Bank premises 110 - 1 + 3 Other assets 1/ 1,786 + 115 +- 428 TOTAL ASSETS/LIABILITIES & CAPITAL ACCOUNTS (2,705) 72,318 +1 ,060 +4,008 Federal Reserve notes (537) 41,778 + 158 +2,250 Deposits: Member bank reserves 20,949 + 502 +1,229 U. S. Treasurer—general account 724 + 66 + 412 Foreign 168 + 32 + 16 Other 2/ 417 - 23 + 8 Total deposits 22,258 + 577 +1,665 Deferred availability cash items (2,168) 6,676 + 287 11 Other liabilities and accrued dividends 301 -__ 6 + 45 TOTAL LIABILITIES (2,705) 71,013 +1,016 +3,949 C A P I T AL A C C O U N TS Capital paid in 593 2 + 24 Surplus 570 + 19 Other capital accounts 142 42 + 16 Ratio of gold certificate reserves to F. R. note liability (computed from figures as shown on the followings pages — not consolidated) 28.17o . 27o - 3.57> Contingent liability on acceptances purchased for foreign correspondents 143 - 3 - 54 * Figures in parentheses are the eliminations made in the consolidating process. 1/ Includes assets denominated in foreign currencies and IMF gold deposited. 2/ Includes IMF gold deposit. " MATURITY DISTRIBUTION OF ..LOANS AND SECURITIES, DECEMBER 20, 1967 (Acceptances and securities held under repurchase agreements are classified as maturing within 15 days in accordance ./ith maximum maturity of the agreements.) U. S. Government securities and Discounts and Federal Agen cy obligations advane<B S Acceptances Holdings W(s ekly changes Within 15 days 416 10 2,414 +465 16 days to 90 days 3 64 7,640 -484 91 days to 1 year -- „ 21,114 + 75 Over 1 year to 5 years _- _- 16,185 - 73 Over 5 years to 10 years — 832 - 96 Over 10 years ~„ -- 555 -._ Total 419 74 48,740 •113 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(b) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 20, 1967 San New Phila Cleve Rich St. Minne Kansas Total Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas Fran cisco (In millions5 of dollL ars) A S S E TS Gold certificate account 9,978 ' 59^ 2,357 587 810 915 508 1,582 uoi 168 352 309 1,395 Redemption fund for F. R. notes 1,928 108 >72 101 156 176 107 329 67 ^ . ... 7.2 . 69 ?^8 Total gold certificate reserves 11,906 702 2,829 688 966 1,091 615 1,911 ^68 201 k2k 378 1,633 F. R. notes of other banks 537 kk 167 29 38 3^ k6 3^ 20 9 28 19 69 Other cash 35^ 22 kk 8 ^5 22 kl 66 32 k 17 Ik 39 Discounts and advances U19 k 280 1+ 2 6 50 k 2 21 k k2 •* Acceptances: Bought outright 7^ -- 7^ ~- -- -.- _ - -._ - - — — — m. m. mm mm m. Held under repurchase agreements «... -«. __ .... ~> .. M M mm mm mm mm mm mm Federal Agency obligations -- Held under repurchase agreements -- U. S. Government securities: Bought outright-- Bills : 15,735 85^ 3,922 790 1,227 1,159 890 2,585 55^ 303 595 66k 2,192 Certificates ..« -- __ «... -- «... -- -» mm m. Notes 26,918 l,^6l 6,709 1,352 2,100 1,982 1,523 i+,^22 9^8 518 1,018 1,136 3,7^9 Bonds 6.087 330 1.517 ^c6 1^75 kkP, ?U5 1,000 ?iU 117 270 2^7 RkR Total bought outright ^8,7^0 2,6^5 12, lij-8 2,^8 3,802 3,589 2,758 8,007 1,716 938 1,8^3 2,057 6,789 Held under repurchase agreements ~- -- -- -.- -- ~- -- Total U. S. Government securities ^8.7^0 2.6^5 12. lW 2..1A8 ^.802 3.589 ?,7^8 8,007 1' 71 6 Q38 1 fito ?,os7 6.ffto } Total loans and securities ^9,233 2,6*1-9 12,502 2,^52 3,80^ 3,595 2,758 8,057 1,720 $ko l,86k 2,06l 6,831 Cash items in process of collection 11,097 691 2,0C7 665 808 883 937 1,88k 617 365 711 566 963 Bank premises no 3 10 2 5 7 20 18 9 3 16 9 8 Other assets 1/ 1.786 76 6^k 8^ 1^8 88 Qk ??7 RU ^6 67 86 pn^ TOTAL ASSETS 75,023 ^,187 18,193 3,927 5,804 5,720 U,5ii 12,197 2,920 1,558 3,127 3,133 9,7^6 _!/ Includes assets denominated in foreign currencies and IMF gold deposited. * Less than $500,000. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON DECEMBER 20, 1967 San New Phila Cleve Rich St. Minne Kansas Total Boston Atlanta Chicago Dallas Fran York delphia land mond Louis apolis City cisco (In millions of dollL ars) L I A B I L I T I ES Federal Reserve notes 42,315 2,507 9,835 2,450 3,418 3,874 2,425 7,401 1,565 715 1,569 1,421 5,135 Deposits: Member bank reserves 20,949 908 5,821 810 1,468 960 1,155 3,031 817 499 904 1,153 3,423 U. S. Treasurer--general account 724 42 116 33 44 99 54 44 51 28 65 35 113 Foreign 168 7 1/ 64 7 13 7 9 21 5 3 6 8 18 Other 417 1 2/375 1 * 8 1 2 4 1 3 3 18 Total deposits 22,258 958 6,376 851 1,525 1,074 1,219 3,098 877 531 978 1,199 3,572 Deferred availability cash items 8,844 643 1,567 542 721 680 769 1,456 423 276 512 427 828 Other liabilities and accrued dividends 301 16 76 15 25 21 17 49 10 6 12 13 41 TOTAL LIABILITIES 73,718 4,124 17,854 3,858 5,689 5,649 4,430 12,004 2,875 1,528 3,071 3,060 9,576 CAPITAL ACCOUNTS Capital paid in 593 29 154 31 54 31 37 87 20 14 26 34 76 Surplus 570 27 148 30 51 30 35 83 20 14 25 33 74 Other capital accounts 142 7 37 8 10 10 9 23 5 2 5 6 20 TOTAL LIABILITIES AND CAPITAL ACCOUNTS 75,023 4,187 18,193 3,927 5,804 5,720 4,511 12,197 2,920 1,558 3,127 3,133 9,746 Contingent liability on accept ances purchased for foreign correspondents 143 7 3/ 37 7 13 7 9 21 5 4 6 8 19 FEDERAL RESERVE AGENTS' ACCOUNTS F. R. notes outstanding 44,076 2,565 10,279 2,500 3,658 3,987 2,527 7,627 1,631 739 1,638 1,540 5,385 Collateral for F. R. notes: Gold certificate accounts 6,643 450 1,000 525 600 620 450 1,400 331 127 225 180 735 Eligible paper -- -- __ -- — -- -- -- -- -- -- -- -- U. S. Government securities 38,511 2,136 9,400 2,100 3,100 3,400 2,100 6,450 1,370 625 1,450 1,380 5,000 Total collateral _45,154_ 2,586 10,400 2,625 3,700 4,_020„ 2,550 7,850 JLJ01 752 lj675 1^560 5,73^5 1/ After deducting $104 million participations of other Federal Reserve Banks, 2/ Includes IMF gold deposit. * Less than $500,000, 3/ After deducting $106 million particiaptions of other Federal Reserve Banks,, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis